Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

(Reuters) – British new car registrations jumped nearly 24% in November from a year earlier to record their fourth straight month of gains, driven by sales of large fleets and a pick-up in demand from private buyers, an industry body said on Monday.

The Society of Motor Manufacturers and Traders (SMMT) said registrations in November stood at 142,889 units, nearly 9% below pre-pandemic levels.

“While further recovery is anticipated in 2023, global and domestic economic challenges mean that the market will remain below pre-pandemic levels,” it said.

Britain’s auto market, still reeling from the impact of chip shortages plaguing the industry, has been hit by the cost of living crisis, which has seen consumers limit big-ticket purchases.

The sales of environment friendly electric vehicles (EVs) continued to strengthen, with registrations of battery EVs rising 34.2% and accounting for more than one in five new cars in November.

Registrations by large fleets jumped 45.4% year-on-year, while demand from private buyers grew 2.7%.

SMMT Chief Executive Officer Mike Hawes called for urgent measures including more investment in electric charging infrastructure to rev up appetite for EVs.

 

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Dhanya Ann Thoppil and Anil D’Silva)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts